Las Vegas City Commission Minutes, March 1, 1922 to May 10, 1929, lvc000002-322

the first part therein, and A. L. Richmond, as party of the second part therein, and, WHEREAS, the said agreement between said Las Vegas Land & Water Company and said A.L. Richmond has heretofore become null and void and of no further force or effect by reason of the failure of the said A. L. Richmond to perform the terms and conditions of said last mentioned agreement, and WHEREAS, it appears to this Board that said Las Vegas Land & Water Company is about to enter into an agreement with one Frank N. Riley (hereinafter called the "proposed agreement") to convey to said Frank N. Riley the said "Public Park" and other lands upon the the cond­ition that the said Frank N. Riley shall construct, fully complete and have in actual oper­ation a first class modern tourist hotel containing not less than one hundred fifty rooms and to cost and be reasonably worth not less that Four Hundred Fifty Thousand Dollars, to­gether with suitable adjuncts, upon a site located within three miles from the Courthouse in the City of Las Vegas within one year from the date of the deposit of a deed of convey­ance of said "Public Park" and said other lands in the First State Bank of Las Vegas, Nev­ada, Inc., at Las Vegas, Nevada, all as is more fully set forth in said proposed agreement, a draft of which has been presented to this Board and is on file with said City, and WHEREAS, under the terms of that certain written agreement, bearing date the 16th day of February, 1927, made between the said Las Vegas Land & Water Company, as party of the first part, and said City of Las Vegas, as party of the second part, pursuant to a Reso­lution duly adopted by the Board of City Commissioners of said City of Las Vegas at said adjourned regular meeting of February 16, 1927, (which said agreement was amended by an agreement between the same parties in writing bearing date the 10th day of May, 1927, and further amended by an agreement in writing between the same parties bearing date the 18th day of August, 1927, said amendments extending the time of the performance by said A. L. Richmond of his said contract with said Las Vegas Land & Water Company) the said City of Las VegaS is entitled, upon its request, to have said "Public Park" re-conveyed to it by said Las Vegas Land & Water Company in trust for park purposes, and, WHEREAS, it appears to this Board and is so found and determined by this Board that the construction and operation of said hotel and adjuncts under said proposed agreement will be advantageous to said City and its citizens, and that the conveyance by said Las Vegas Land & Water Company of said "Public Park" and said other lands is necessary in or­der to facilitate and make possible the consummation of said proposed agreement and the construction and operation of said hotel and adjucts, NOW THEREFORE, BE IT RESOLVED that said City of Las Vegas, acting by and through its Mayor and City Clerk, under the hand of said Mayor, attested by said City Clerk under the seal of said City, enter into an agreement with said Las Vegas Land & Water Company in the words and figures following: "THIS AGREEMENT, made and entered into in duplicate this _______day of _______________, 1928, by and between LAS VEGAS LAND & WATER COMPANY, a corporation organized and exist­ing under and by virtue of the laws of the State of Nevada, with its principal office and place of business at the City of Las Vegas, said State, the party of the first part, and the City of Las Vegas, a municipal corporation of the State of Nevada, the party of the second part, WITNESSETH: WHEREAS, a certain written agreement was made and entered into between the parties hereto , bearing date the 16th day of February, 1927, and which said agreement was sub­sequently amended by agreements in writing between the parties hereto of dates the 10th day of May, 1927 and the 18th day of August, 1927, respectively, and WHEREAS, the said agreement of date the 9th day of February, 1927, between Las Vegas Land & Water Company, as first party, and A. L. Richmond, as second party, mentioned in